Volvo Blames Global Trade Issues for Lowered 2026 Profit Margin Target
Volvo Cars has revised its 2026 profitability targets, citing global trade and tariff complexities. On Thursday, the Swedish automaker, majority-owned by China’s Geely, announced it would lower its operating profit…
Alibaba Expands Payment Options by Adding Tencent’s WeChat Pay
Alibaba has announced that its Taobao and Tmall e-commerce platforms will soon allow users to make payments through Tencent’s WeChat Pay, marking the first time such an option has been…
Intel Faces Possible Removal from Dow Jones as Shares Plunge
Intel’s long-standing presence in the Dow Jones Industrial Average is at risk as its share price continues to decline. The American chipmaker, which became one of the first tech companies…
Nvidia Faces Historic $279 Billion Loss as AI Enthusiasm Wanes
Nvidia experienced a record-breaking $279 billion loss in market value on Tuesday as its shares dropped by 9.5%, marking the largest single-day decline ever for a U.S. company. The downturn…
ByteDance Taps Citigroup, Goldman Sachs, and JPMorgan for Massive Loan
ByteDance, the parent company of TikTok, is reportedly securing a $9.5 billion loan from banks, marking the largest dollar-denominated corporate loan in Asia outside of Japan. According to sources familiar…
Validus Secures $50M Debt Financing from HSBC to Support Indonesian SMEs
Validus, a digital lending platform for small and medium enterprises (SMEs) based in Singapore, has secured $50 million in debt financing from HSBC under the ASEAN Growth Fund strategy. The…
Netherlands considers ASML’s interests in potential China export rules
The Dutch government is considering the economic interests of ASML when evaluating potential restrictions on the export of its computer chip-making equipment to China, according to Dutch Prime Minister Dick…
Uber Aims to Boost Market Share in South Korea with New Strategy
Uber Technologies Inc.‘s CEO, Dara Khosrowshahi, reaffirmed the company’s commitment to expanding its presence in South Korea, despite facing stiff competition from local tech giant Kakao. Speaking to reporters in…
China’s Robotaxi Expansion Raises Job Security Concerns
China’s aggressive push for robotaxi technology has sparked concerns over job security among drivers, while experts suggest the rise of autonomous vehicles is also creating new employment opportunities. Recent developments…
Apple Expands Indian Market Reach with New Airtel Streaming Deal
Apple is partnering with India’s Bharti Airtel to offer its music and video streaming services for free to Airtel’s premium customers. This collaboration provides Apple access to thousands of potential…
Nvidia Board Approves Massive $50 Billion Share Repurchase Plan
Nvidia has announced a $50 billion stock buyback, following approval by its board of directors. The announcement was made alongside the company’s fiscal second-quarter earnings report, which exceeded Wall Street…
PlayStation 5 Price Hike Announced by Sony in Japan
Sony has announced a 19% price increase for its PlayStation 5 console in Japan, citing challenges related to the global economic environment. Starting September 2, the PS5 will retail at…
Samsung SDI, GM Agree on $3.5 Billion EV Battery Facility in US
Samsung SDI, a South Korean battery maker, has finalized an agreement with General Motors (GM) to build a joint electric vehicle (EV) battery factory in Indiana, USA. The two companies…
AI Drives Baidu’s Strategy as Ad Revenue Drops
Baidu has emphasized its leadership in artificial intelligence (AI) as a strategic advantage in navigating an increasingly competitive market, despite a slight decline in quarterly revenue. This statement comes during…
Infineon Settles Qimonda Legal Dispute for $837 Million
Infineon Technologies AG, a German chipmaker, has agreed to pay 753.5 million euros ($837.21 million) to settle a long-standing legal dispute with Qimonda AG’s insolvency administrator. This settlement concludes a…
GM Restructures Software Division with 1,000 Workforce Reduction
General Motors (GM) is laying off over 1,000 salaried employees globally in its software and services division as part of a strategic move to streamline operations and focus on high-priority…
UK Approves Amazon for Prime Air Drone Delivery Trial
Amazon is set to participate in a new trial in the United Kingdom to expand the use of drones for commercial deliveries. The country’s Civil Aviation Authority (CAA) announced that…
Alibaba Earnings Fall Short as Cloud Business Shows Growth
Alibaba reported lower-than-expected earnings for the June 2024 quarter, missing both top- and bottom-line expectations as it continues to struggle with challenges in its core e-commerce business. Despite ongoing efforts…
Tencent-Backed Airwallex Reaches $500 Million in Sales, Eyes IPO Readiness
Airwallex, a payments startup backed by Tencent, has reached a significant milestone with an annual revenue run rate of $500 million. CEO and co-founder Jack Zhang revealed the company’s aim…
Tencent’s Profit Soars 82% as Gaming Division Drives Growth
Tencent, the Chinese tech giant, reported an 82% surge in its quarterly profit, driven by accelerated growth in its key gaming division. The company surpassed both revenue and profit expectations…